Neomed Center Inc

Analysis

Neomed Center Inc is a registered charity in United States, based in Gurabo, PR. It received its IRS tax-exemption ruling in September 1994, 32 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Neomed Center Inc reported income of $79.8m and spending of $75.3m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $43.3m to $79.8m (+84%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Neomed Center Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within PR. Charities of a similar size with the same main cause include Davidson Transit Organization ($79.6m), Sullivan Orange Dutchess Counties Chapter Nysarc Inc ($80.6m) and Sturdy Health Inc ($79.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 20% and program service revenue 79% of the total. Other salaries and wages came to $19.1m. At year end it held assets of $59.8m against liabilities of $14.9m, net assets of $44.9m. It reported 369 employees.